roadly, risk can be defined as a measure of the probability and severity of adverse effects. One can divide risk management into four iterative phases. Which of the following is not one of the iterative phases?

Question

Quizplus · Accepted Answer

Contingency planning, risk mitigation, risk monitoring, and risk assessment are all iterative phases of risk management that involve different aspects of identifying, analyzing, and responding to risks. Loss prevention, however, is not typically considered one of these phases, although it is often an important goal of risk management strategies. Instead, loss prevention can be thought of as a broader objective of risk management, which involves identifying and reducing potential sources of harm or damage in order to minimize the negative impact of adverse events.

Roadly, Risk Can Be Defined as a Measure of the Probability